Eni Plans Sale of 49.99% Stake in CCUS Unit to Global Infrastructure Partners

Eni has signed an agreement with Global Infrastructure Partners (GIP), part of BlackRock, to sell a 49.99% stake in its dedicated carbon capture, utilization, and storage (CCUS) business, Eni CCUS Holding, with joint control pending regulatory approval. Eni CCUS oversees key decarbonization projects including Liverpool Bay and Bacton in the UK, the L10-CCS project in the Netherlands, and holds rights to expand into Italy’s Ravenna CCS project, with potential for future growth. The partnership combines GIP’s infrastructure expertise and Eni’s industrial capabilities to accelerate large-scale CCUS deployment, which is considered a mature and effective decarbonization solution for hard-to-abate industries. Eni CEO Claudio Descalzi highlighted that the collaboration strengthens Eni’s strategy to structure its energy transition businesses into scalable platforms, while GIP CEO Bayo Ogunlesi emphasized CCUS as a vital component of the global energy transition and a generational investment opportunity. The strategic alliance aims to unlock new business opportunities and contribute significantly to reducing CO2 emissions, supporting energy security and industrial competitiveness. This transaction reflects a broader push to meet global clean energy needs through substantial investment in decarbonization technologies.